Generation
AfDB Approves Credit Guarantee for Green Projects in Ivory Coast
Pan-African financial institution the African Development Bank (AfDB) has approved a second partial credit guarantee to suppor Ivory Coast’s long-term financing for green and social projects.
The guarantee forms part of Ivory Coast’s Medium-Term Debt Management Strategy (2024-2028) and will support key sectors including renewable energy, water, health, housing and education.
“This operation reflects the Bank’s strategic use of risk mitigation instruments to help regional member countries access affordable, long-term capital for transformational investments,” stated Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization at AfDB.
The initiative builds on a €533 million bank-guaranteed facility concluded in 2023 and will enable the country to access competitive international and local currency funding. According to the AfDB, the local currency component also strengthens debt sustainability and promotes regional capital market development.
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